P524 Teletext 526 Oct16 21:00:11   NEWS  FILE ———————————  ———————————————————————— TIE RACK SLUMPS £4.3m INTO THE RED Red was in fashion at Tie Rack after the company revealed the strength of the pound and the Asian economic crisis had turned a modest profit into a hefty loss. In the six months to August 16 the niche retailing group made a pre-tax loss of £4.3m against a profit before tax of £158,000 last year. Turnover slumped from £48.9m to £43.7m despite an extended summer sale. ——————————————————————————————————————— Financial headlines 500 City index 501 Download and Analyse Share Prices on Your PC See p533-537 Next Shares City Family Finance